FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Payton Inc. reports in its Year 7 annual report, sales of $7,362 million and cost of goods sold of $2,945 million. For next year, you project that sales will grow by 3% and that cost of goods sold percentage will be 1 percentage point higher.
Projected cost of goods sold for Year 8 will be:
Projected cost of goods sold for Year 8 will be:
Select one:
a. $3,033 million
b. $3,019 million
c. There is not enough information to determine the amount.
d. $3,109 million
e. $2,945 million
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